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    The Largest CRE Database in the US with Over 1 Million Listings

    510 Avenue G Shallowater, TX 79363

    Sponsored
    For Sale
    $195,000

    MULTI_FAMILY - Other - Shallowater, TX

    Property size:
    2,052 SF
    Lot size:
    0.16 Acres
    Days on Market:
    19
    Last Refresh:
    Feb 3 at 2:06 am

    Property Features for 510 Avenue G

    General Information

    Special listing conditions
    Standard
    Property type
    Residential Multi Family
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active
    Rooms
    Bedroom 2, Bathroom 2, Bedroom 5, Bedroom 3, Bedroom 1, Bedroom 6, Bathroom 1, Bathroom 3, Bedroom 4
    Bedrooms
    6
    Bathrooms
    3
    APN
    R68545
    Parking features
    On Street
    Appliances
    Electric Oven, Electric Range
    Size
    2,052 SF
    Lot size
    0.16 Acres

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Heating system
    Central, Natural Gas
    Cooling system
    Central Air, Electric
    Water source
    Public

    Building Details

    Year built
    1956
    Floors in Building
    1
    Number of units
    3
    Flooring type
    Vinyl
    Building materials
    Asbestos, Masonite, Wood Siding
    Roof type
    Metal, Composition
    Architectural style
    Other

    We can help!

    Listing Contact
    Wendy Jones
    Wendy Jones

    Keller Williams Realty (806) 771-7710

    Listing agent Wendy Jones (806) 928-9463 License #0545978

    Listing date Jan 16, 2026

    MLS# 202563405 Listing URL

    Copyright © 2026 Lubbock Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Shallowater Triplex Investment Opportunity

    This property presents a rare investment opportunity in the Shallowater area. The property is a triplex with rents exceeding $2100 per month. Each unit features two bedrooms and one bath. The units have low maintenance solid surface flooring consisting of original hardwood, vinyl and tile throughout. Each unit has central HVAC and laundry hookups. One building is equipped with a durable metal roof, while the other has a composition roof. The property is situated on a lot of 0.16 acres and the building size is 2052 square feet. With very limited rental units available in Shallowater, properties like this are always in high demand.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Shallowater
    County
    Lubbock
    State
    Texas
    Longitude
    -101.997965
    Latitude
    33.687369

    Nearby Similar for Sale

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      5,569 SF

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      Four manufactured homes in Shallowater, TX, generating strong rental income.
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    • $450,000
      3,328 SF

      Shallowater Investment Opportunity

      Four homes on a spacious lot, great investment opportunity.
      807 Avenue L, Shallowater, TX 79363
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    • $795,000

      Mobile Home Community For Sale

      Mobile home community with 14 mobile homes and 2 residences.
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    FAQs

    What type of property is this?
    Triplex - Triplex in high demand Shallowater area with solid rental history.
    Where is this triplex located?
    The property is located at 510 Avenue G Shallowater, TX.
    What is the asking price?
    The asking price for this property is $195,000.
    What are key features of this property?
    This property features: - High rental income: Rents exceeding $2100 per month.; - Investment opportunity: $65,000 per unit in the Shallowater area.; - Each unit has 2 bedrooms and 1 bath.
    (806) 928-9463
    Request Owner's contact information
    510 Avenue G Shallowater, TX 79363
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    Shallowater, TX 79363
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    510 Avenue G Shallowater, TX 79363
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    We can help!
    Listing Contact
    Wendy Jones
    Wendy Jones
    Real Estate License ID: 0545978
    (806) 928-9463
    Learn more
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